Scotts Miracle-Gro (NYSE:SMG) Sets New 52-Week Low – Time to Sell?

The Scotts Miracle-Gro Company (NYSE:SMG)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $54.81 and last traded at $54.88, with a volume of 517192 shares trading hands. The stock had previously closed at $57.25.

Analyst Upgrades and Downgrades

SMG has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group began coverage on shares of Scotts Miracle-Gro in a research report on Monday, December 9th. They set a “hold” rating and a $72.00 price target for the company. Stifel Nicolaus upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and cut their price objective for the company from $78.00 to $70.00 in a research report on Tuesday, March 4th. Finally, UBS Group dropped their price target on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.00.

Scotts Miracle-Gro Price Performance

The firm’s fifty day moving average is $64.21 and its two-hundred day moving average is $72.43. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -113.88 and a beta of 1.79.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.34. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. During the same period last year, the company posted ($1.45) earnings per share. On average, equities analysts forecast that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Friday, February 21st. Scotts Miracle-Gro’s dividend payout ratio is presently -550.00%.

Insider Activity

In other Scotts Miracle-Gro news, EVP Christopher Hagedorn sold 3,568 shares of Scotts Miracle-Gro stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $71.50, for a total value of $255,112.00. Following the transaction, the executive vice president now owns 55,972 shares in the company, valued at approximately $4,001,998. The trade was a 5.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian E. Sandoval sold 1,513 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $65.86, for a total value of $99,646.18. Following the sale, the director now owns 13,039 shares of the company’s stock, valued at $858,748.54. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,937 shares of company stock worth $11,379,275 over the last 90 days. 25.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Atala Financial Inc acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter worth about $26,000. Tortoise Investment Management LLC increased its position in shares of Scotts Miracle-Gro by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 225 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Scotts Miracle-Gro by 68.3% during the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 252 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Scotts Miracle-Gro in the 3rd quarter valued at approximately $44,000. 74.07% of the stock is owned by institutional investors and hedge funds.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.